Temasek-backed Mapletree prices Singapore IPO at top, raising US$1.3b

SINGAPORE/HONG KONG - A real estate investment trust backed by Temasek Holdings Pvt Ltd has priced its Singapore IPO at S$0.93 each, the top of the indicative range, a source briefed on the matter told Reuters on Tuesday. The IPO would raise about US$1.3 billion (S$1.6 billion), in the city-state's biggest REIT offering.

Mapletree Greater China Commercial Trust, with retail developments in mainland China and in Festival Walk, an up-market shopping centre in Hong Kong's Kowloon district, had offered units in the trust in S$0.88 to S$0.93 range.

The source was not authorised to speak to media ahead of the official pricing announcement.